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Showing posts with label Gold - Trading within a major triangle.. Show all posts
Showing posts with label Gold - Trading within a major triangle.. Show all posts

Thursday, January 23, 2014

Gold - Trading within a major triangle.

Gold

We have seen the resistance line from 1,433.73 protect the upside. I'm still looking for an ultimate break above this line and more importantly a break above resistance at 1,268, which confirms a rally higher towards 1,362 in wave c of a possible triangle, that have been developing since the 1,180 low in late June 2012.
Short term look for strong support near 1,218.